US EditionAustralia-EU Sign Landmark Free Trade Deal After Years of Negotiations
The deal cuts most tariffs both ways and includes a security pact, boosting EU exports to Australia by 33% over a decade amid global trade tensions.
- On Tuesday, Prime Minister Anthony Albanese and European Commission President Ursula von der Leyen signed a free trade agreement at Parliament House in Canberra, removing about 98% of tariffs between the two economies.
- Negotiations began in 2018 but stalled in 2023 over beef quotas and geographical naming disputes; both sides accelerated talks to mitigate global trade uncertainty and reduce reliance on China amid U.S. tariff pressure.
- The pact opens a 30,600-tonne beef quota with 55% duty-free access, raises the luxury car tax threshold to A$120,000 for electric vehicles, and requires Australian producers to phase out prosecco labels over 10 years.
- Agricultural groups criticized the deal immediately, with National Farmers' Federation President Hamish McIntyre calling it a 'dud' that fails to provide commercially meaningful access for red meat exporters.
- Alongside the trade accord, leaders announced a security and defense partnership focusing on cyber security and critical minerals cooperation, with Australia set to join the Horizon Europe research program next year.
203 Articles
203 Articles
The EU and Australia Strike Landmark Critical Minerals Trade Deal
The EU and Australia have signed a landmark trade deal focused on critical minerals, supply chain security and deeper strategic cooperation after eight years of talks. Credit: Lukas Coch / EPA via AMNA Australia and the EU have signed a long-awaited trade agreement focused on critical minerals, supply chain resilience, and closer economic cooperation, bringing eight years of negotiations to an end. Leaders on both sides are presenting the deal a…
After nearly a decade of intense negotiations, the European Union and Australia have concluded a "ambitious" trade agreement this Tuesday that will reduce tariffs and trigger investment between the two blocs, a pact that certifies mutual interest in opening new doors to trade that will reduce their dependence on the United States.
After eight years of negotiations, the free trade agreement between Canberra and Brussels is in place. It opens markets and sends a political signal against protectionism.
EU, Australia agree free trade pact
The EU and Australia reached a free trade agreement and said they would deepen cooperation on critical minerals and defense, as both look to diversify trade away from the US and band together against a rising China. While the trade deal had been in negotiations for years, held up by domestic opposition, Washington’s tariff campaign created a new impetus. Brussels has struck deals with India, Indonesia, and Mexico to shore up access to key commod…
Australia, European Union agree sweeping new trade pact 8 years in the works
The European Union (EU) and Australia struck a long-awaited free-trade deal on Tuesday, while also agreeing to boost defence cooperation and access to crucial rare-earth minerals in the face of global uncertainty over trade. EU chief Ursula von der Leyen’s visit to Australia comes as the 27-nation bloc and the import-reliant nation navigate renewed energy vulnerability sparked by the US-Israel war on Iran. The accord is the latest agreed by Bru…
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